H&M To Permanently Close 8 Stores In Italy
H&M is planning to permanently close down eight stores in…
H&M is planning to permanently close down eight stores in Italy.
The fast fashion label is set to close two stores in the country’s fashion capital of Milan, as well as one in the southern city of Bari. It will also shut down shops in the northern cities of Udine, Vicenza, Bassano del Grappa, Gorizia and in the Tuscan city of Grosseto between August and November.
“The decision to close is linked to the economic sustainability of each specific store,” a spokesperson added in an emailed statement to Reuters, which first reported the news. The company intends to “optimize its store portfolio, add new services online and keep offering clients the best shopping experience, through different channels.”
The label also stated that this month it expected a loss in the second quarter due to the impact of coronavirus pandemic. As at March 31, a total of 3,778 out of 5,065 stores were closed and the net sales in March 2020 decreased by 46 percent in local currencies compared to previous year.